TDS on GST applicable on insurance premium paid by PSU


This query is : Resolved 

Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) applies to the Goods and Services Tax (GST) component of insurance premiums paid by Government Companies (PSUs) when the premium exceeds £2.5 Lakh. The consensus is that TDS is indeed applicable on the insurance premium amount, specifically calculated on the value excluding GST.

01 May 2020 is TDS on GST applicable on insurance premium paid by Govt. Company ( premium amount > 2.5 Lakh )

02 May 2020 Yes it will fall under contract for insurance.

08 May 2020 Yes TDS will be applicable on Premium Amount Ex GST


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